Taxes Consolidation Act, 1997 (Number 39 of 1997)
This section has been repealed.
Repealed by TCA97 s848A, as inserted by FA01 s45.
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767 Payment to universities and other approved bodies for research in, or teaching of, approved subjects.
[FA73 s21; FA85 s15]
(1) In this section—
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“approved body” means—
(a) the College of Industrial Relations, Ranelagh, Dublin, or
(b) any of the following colleges established under the Vocational Education Act, 1930—
(i) colleges forming part of the Dublin Institute of Technology,
(ii) the Limerick College of Art, Commerce and Technology, or
(iii) regional technical colleges;
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“approved body” means—
(a) the National College of Ireland,
(b) an institution comprising the Dublin Institute of Technology established by or under section 3 of the Dublin Institute of Technology Act, 1992, or
(c) an educational institution established by or under section 3 of the Regional Technical Colleges Act, 1992, as a regional technical college;
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“approved subject” means—
(a) industrial relations,
(b) marketing, or
(c) any other subject which is approved for the purposes of this section by the Minister for Finance.
(2) Where a person carrying on a trade or profession—
(a) pays any sum to—
(i) an Irish university, or
(ii) an approved body,
for the purpose of enabling the university or the approved body to undertake research in, or engage in the teaching of, an approved subject, and
(b) the sum so paid is not income to which section 792 applies,
the sum so paid shall, if not otherwise so deductible, be deducted as an expense in computing the profits or gains of the person’s trade or profession.
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(3) (a) Subsection (2) shall also apply to any sum paid to a body of persons or a trust established in the State for the sole purpose of granting financial or other aid to—
(i) an Irish university, or
(ii) an approved body,
for the purpose of enabling the university or the approved body to undertake research in, or engage in the teaching of, an approved subject.
(b) This subsection shall apply and have effect as respects a chargeable period (within the meaning of section 321) being—
(i) where the chargeable period is a year of assessment, the year 2000-2001, and any subsequent year of assessment, or
(ii) where the chargeable period is an accounting period of a company, an accounting period ending on or after 6 April 2001.
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